Today's support and resistance levels:

R3: 1.6263

R2: 1.6183

R1: 1.6147

Current spot: 1.6129

S1: 1.6103

S2: 1.6084

S3: 1.6033

Technical summary:

The break above 1.6121 is positive, but we still need to see acceleration higher towards 1.6263 and above for a rally towards 1.6446 and higher. Short term, we will be looking for support at 1.6103, which ideally will protect the downside for a break above minor resistance at 1.6183 and more importantly a break above resistance at 1.6263 for the rally to 1.6446 and above. Only an unexpected break below 1.6033 will invalidate the bullish picture.

Trading recommendation:

We are long in EUR from 1.6085 with stop place at 1.6025. If you are not long in EUR yet, then buy near 1.6103 or upon a break above 1.6183 with the same stop at 1.6025.